Published on 11 Oct 2012
| Took place at Mantra, Lorne
This year’s convention was about focusing on the practical issues. The presenters rolled up their sleeves and dealt with the real-life issues that practitioners at the coalface, and their clients, encounter on a daily basis. Whether it was a session on dealing with the ATO, a session on considering the latest corporate tax changes or a session on a difficult SME tax issue, the practical aspects were discussed.
Superannuation — Pensions and Death
Capital management strategies including Corporations Act Reforms and recent case Developments
Company Losses – The Good, The Bad and The Ugly
Getting Money Out of SME Companies
Reportable Tax Positions
Succession Planning for Professionals
The New Part IVA – Clarification or Extension?
Contractor vs Employee
Family Law and Family Trusts
GST and State Taxes Update
Division 7A: Hotspots with Common Structures and Strategies.
Get a 20% discount when you buy all the items from this event.
Recent changes in superannuation law have simplified some superannuation pension rules, but most of the big questions remain. This paper helps advisers identify the best pension structure for clients having regard to both taxation and estate planning considerations.
Issues covered include:
When should clients think about pensions – age 55, resignation, retirement or other?
Comparing and contrasting pension options
When can you commute a pension?
Re-contribution and other strategies you need to tell your clients about
Should you always segregate assets?
Reversionary pensions and binding death nominations – which one wins?
Taxpayers and their advisers face significant challenges in navigating the case law, international standards, established practice and capital markets in establishing “market value” for a plethora of purposes.
This paper looks at “market value” in different tax and revenue contexts, including:
The introduction of trust streaming changes has caused many practitioners to panic about ensuring clients’ trustee distributions are correctly in place by 30 June each year. In this paper, Graeme spells out what is needed to methodically address each client’s circumstances by 30 June to ensure your trustee client, and you, are safe from ATO scrutiny.
The issues covered include:
Where do you start and where do you go to find the information?
Practical recognition and treatment of the basic terms of distributable income, s95(1) income, income equalisation and income recharacterisation clauses, including TR 2012/D1 interpretation
Use of proportions, fractions or percentages rather than dollar amounts
What types of income can be streamed and how?
How to handle distributions through a chain of trusts
What happens if the ATO amends?
Use of resolution decision checklists and decision trees
Determining the eventual journal entries, general ledgers and accounts.
Consolidation - We have the new law! What does it mean?
Ten years into the consolidation regime, the tax cost setting rules have changed with retrospective effect. There are also changes to the TOFA stages 3 and 4 interaction rules. This paper concentrates on issues of vital importance to corporate taxpayers and their advisers, and covers:
practical issues in dealing with retrospective amendments
what is left to claim: contracts, intangibles and consumables
the business acquisition model and future acquisitions
the TOFA–consolidation interfact
the impacts for SMEs
the Board of Taxation’s post-implementation review.
When the revenue tail starts to wag the commercial dog, strange outcomes and potential dangers are inevitable. This paper looks at some of the issues to be addressed for SME clients who want to extract money from their companies without being bitten.
Issues covered include:
debit loans (Div 7A)
credit loans (Div 974 debt–equity)
making UPEs and how to get the money out
dividends (including streaming and classes of shares)
Division 7A: Hotspots with common structures and strategies
With the ATO blowtorch squarely aimed at Div 7A, this paper turns the heat up on Div 7A issues arising from common structures and strategies post 16 December 2009, together with possible ways of dealing with them.
Issues to be examined include:
multi-layered entities, creating multiple Div 7A problems
loans and payments through interposed entities
strategies to deal with UPEs, including transferring receivables
UPEs becoming loans because of the trust deed
non-resident companies and/or shareholders
the use of property – when and how to value it?
the use of guarantees, security and subrogating rights to UPEs.
Most tax advisers think that any dispute with the ATO begins and ends with the Administrative Appeals Tribunal. However, most tax advisers may be surprised to learn that there is a wide range of administrative remedies where a solution can be found without resorting to litigation.
This paper sets out the latest strategies in dealing with the ATO in a dispute including:
Recent case law and legislation in response have changed the landscape on transfer pricing matters for good. This paper provides you with an up-to-date review from the ATO's perspective, of this growing area of advice and enable you to tackle the current and future transfer pricing issues.
Recent cases have highlighted how family trusts can be caught up in volatile family law disputes. Advisers need to understand what they should tell clients about these risks and whether any risks can be minimised.
The government has announced its intention to reform the tax loss provisions. This paper examines the difficulties of using the current provisions, the proposed reforms and examine areas where further reforms are required.
The paper covers:
loss carry backs
changes to continuity of ownership and same business tests
Following several recent decisions of the Federal Court in favour of the taxpayer on the question of whether a “tax benefit” arose, the government has announced its intention to amend Part IVA to ensure that Part IVA continues to be effective in countering tax avoidance. This presentation critically evaluate the proposals and covers:
what do they really mean?
are they needed?
a review of the recent casest
tax planning implicationh
sow would some of the key Part IVA cases have been decided if the proposed changes applied then?
This paper provides a practical analysis of the most important Australian tax cases handed down over the past 12 months. The cases are relevant to all in the tax industry regardless of their size, industry or speciality. In addition to analysing the decisions themselves, consideration is given to judicial trends emerging in tax matters.
Recent case law and legislation in response have changed the landscape on transfer pricing matters for good. This paper provides an up-to-date review of this growing area of advice and enable you to tackle the current and future transfer pricing issues.
This paper covers the actual amendments to thte tax law and the implications of those changes.
The ATO’s reportable tax positions schedule is a “realtime” development which raises important issues for corporate taxpayers regarding governance, disclosure and management of their tax affairs. It also has significance for the self-assessment concept. This presentation focuses on teh following issues:
the what, when, how and why of the reportable tax positioh
now do “reasonably arguable” and “reasonable care” come into this?
two views of what is needed for real-time tax governance.